Reach Subsea ASA · OSL:REACH
Reach Subsea ASA — Q3 2024 Earnings Presentation
16 slides from Reach Subsea ASA's earnings presentation, Nov 12, 2024
Slide 1: Quarterly Consolidated Presentation Q3 2024
Q3 Q3 2024 2024 Everything within Reach Quarterly Consolidated Presentation Sustainable access to ocean space Jostein Alendal, CEO | Birgitte Wendelbo Johansen, CFO | 12 November 2024 Find out more at reachsubsea.com
Slide 2: Disclaimer
3rd Quarter 2024 Disclaimer IMPORTANT – You must read the following before The Information has been prepared by the future business strategies and the environment in This presentation contains statistics, data, continuing. The following applies to this document, Company, and no other party accepts a
Slide 3: Reach Subsea confirming steady progress
3rd3rd Quarter 2024 Quarter 2024 9 Reach Subsea confirming steady progress A strong 3Q in terms of activity level and operating results driven by growth, strong NOK 835 million market conditions and successful project Revenue Q3 2024 execution. EBIT for 3Q2024 was NOK 134.1 million (NOK 112.4 millio
Slide 4: Vessel capacity for long-term growth
3rd3rd Quarter 2024 Quarter 2024 9 Vessel capacity for long-term growth Order backlog +117% 1600 1500 1300 1200 740 815 690 590 440 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3-2024 Continued strong order backlog *Does not include options and expected call- off Outstanding tend
Slide 5: Keeping the fleet busy: Strong utilization across vessels
3rd3rd Quarter 2024 Quarter 2024 9 Keeping the fleet busy: Strong utilization across vessels A large ship in the water A large ship in the water Description automatically generated Description automatically generated Viking Reach Havila Subsea Deep Cygnus Go Electra A red and white ship in the water
Slide 6: Reach Remote
3rd3rd Quarter 2024 Quarter 2024 18 Reach Remote Reach Subsea | Quarterly Consolidated Report 2024 Sustainability Finance Financial Statements
Slide 7: Steady Progress for Reach Remote 1 & 2
3rd3rd Quarter 2024 Quarter 2024 Steady Progress for Reach Remote 1 & 2 Proving the capabilities of the Pilot program vessel Joint Industry •Seabed mapping Project •Pipeline inspection •Subsea structure inspection •Reservoir modelling by gravimetry measurements Highlights Q3 Successful completion of
Slide 8: Financials
3rd Quarter 2024 Financials Reach Subsea | First Quarter Consolidated Report 2024
Slide 9: Q3 2024 Highlights
3rd Quarter 2024 Q3 2024 Highlights • Strong Q3 quarter leveraged by global operations • Q3 revenue at NOK 835 million • Order backlog remaining strong at NOK 1.5 billion Revenue NOK 835 million (NOK 651 million) EBIT NOK 134 million (NOK 112 million) Pre-tax profit NOK 115 million (NOK 92 million)
Slide 10: Revenue and profits raised to record levels
3rd Quarter 2024 Revenue and profits raised to record levels Rolling 12-month Revenue (MNOK) Rolling 12-month EBIT and Pre-tax profit (MNOK) 2750 400 2500 350 2250 300 2000 250 1750 200 1500 150 1250 100 1000 50 750 0 500 250 -50 0 -100 2018 2019 2020 2021 2022 2023 2024 2018 2019 2020 2021 2022 202
Slide 11: Q3 2024 Key developments
3rd Quarter 2024 Q3 2024 Key developments Revenue mix by sector Revenue mix by segment Revenue mix by geography +28% +28% +28% 900 652 834 900 652 834 652 834 • 28 percent revenue 900 increase for the quarter driven by 800 800 800 700 700 700 • Increased number 600 600 95 329 600 135 345 of project
Slide 12: Positioned for growth
3rd Quarter 2024 Positioned for growth Solid financial position (MNOK) • Strong liquidity and equity 928 1 028 positions 931 • Well-positioned for remaining investments in Reach Remote 579 331 374 315 287 257 210 207 160 130 122 70 68 75 40 31 28 26 2019 2020 2021 2022 2023 Q3 2024 Financial debt Ca
Slide 13: Sustainability in REACH
3rd Quarter 2024 Sustainability in REACH Environment Social Governance Increase activity CO2 footprint below Lost time incidents Zero work-related 90% completion of 90% completion of within non –Oil & Gas NSA relevant emission (LTI) 0% injuries (LTI) cyber security Code of Conduct and segment target
Slide 14: Summary
3rd Quarter 2024 Summary Reach Subsea | First Quarter Consolidated Report 2024
Slide 15: Positioned for continued growth and value creation, globally
3rd Quarter 2024 Positioned for continued growth and value creation, globally 1. ATTRACTIVE MARKET OUTLOOK High investments in Oil and renewable energy set to continue for years 2. POSITIONED FOR FURTHER Haugesund, Bergen, Oslo GROWTH Aberdeen Expanded service offering, expanded long- term vessel ca
Slide 16: Q&A
3rd Quarter 2024 Q&A Reach Subsea | First Quarter Consolidated Report 2024